Trillium Asset Management LLC Sells 12,675 Shares of SVB Financial Group (SIVB)
Trillium Asset Management LLC cut its holdings in SVB Financial Group (NASDAQ:SIVB) by 17.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 61,971 shares of the bank’s stock after selling 12,675 shares during the quarter. SVB Financial Group makes up about 1.0% of Trillium Asset Management LLC’s holdings, making the stock its 29th biggest holding. Trillium Asset Management LLC’s holdings in SVB Financial Group were worth $19,262,000 at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in the company. Security National Trust Co. bought a new position in SVB Financial Group in the 2nd quarter worth about $116,000. Price Capital Management Inc. bought a new position in SVB Financial Group in the 3rd quarter worth about $124,000. Signaturefd LLC boosted its stake in SVB Financial Group by 341.2% in the 2nd quarter. Signaturefd LLC now owns 503 shares of the bank’s stock worth $145,000 after purchasing an additional 389 shares in the last quarter. Stratos Wealth Partners LTD. bought a new position in SVB Financial Group in the 3rd quarter worth about $146,000. Finally, Advisors Preferred LLC bought a new position in SVB Financial Group in the 2nd quarter worth about $167,000. 88.43% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts recently issued reports on the stock. Piper Jaffray Companies reiterated a “buy” rating and issued a $384.00 price target on shares of SVB Financial Group in a research note on Friday, July 27th. Wells Fargo & Co upped their price target on shares of SVB Financial Group from $335.00 to $345.00 and gave the stock an “outperform” rating in a research note on Friday, July 27th. Zacks Investment Research reiterated a “hold” rating on shares of SVB Financial Group in a research note on Thursday. Wedbush upped their price target on shares of SVB Financial Group from $325.00 to $350.00 and gave the stock a “neutral” rating in a research note on Friday, July 27th. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $355.00 price target on shares of SVB Financial Group in a research note on Friday, July 27th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. SVB Financial Group currently has an average rating of “Buy” and an average price target of $347.00.
SIVB traded up $2.33 during midday trading on Monday, hitting $242.48. 3,283 shares of the company traded hands, compared to its average volume of 911,820. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.63 and a current ratio of 0.63. The stock has a market capitalization of $12.79 billion, a P/E ratio of 24.29, a P/E/G ratio of 1.35 and a beta of 1.68. SVB Financial Group has a 52 week low of $211.91 and a 52 week high of $333.74.
SVB Financial Group (NASDAQ:SIVB) last released its quarterly earnings results on Thursday, October 25th. The bank reported $5.10 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $4.44 by $0.66. SVB Financial Group had a net margin of 32.44% and a return on equity of 18.39%. The firm had revenue of $703.29 million during the quarter, compared to analyst estimates of $664.51 million. Research analysts forecast that SVB Financial Group will post 17.73 EPS for the current fiscal year.
SVB Financial Group announced that its board has initiated a stock buyback program on Tuesday, November 13th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the bank to purchase up to 3.9% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.
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SVB Financial Group Profile
SVB Financial Group, a diversified financial services company, provides various banking and financial products and services. Its Global Commercial Bank segment offers deposit products, such as business and analysis checking, money market, multi-currency, in-country bank, and sweep accounts, as well as merchant, remote capture, lockbox, electronic deposit capture, and fraud control services; credit products and services comprising term loans, equipment loans, asset-based loans, revolving lines of credit, accounts-receivable-based lines of credit, capital call lines of credit, and credit cards; and payment and cash management products and services, including wire transfer and automated clearing house payment, bill pay, debit card account analysis, and disbursement, as well as online and mobile banking services.
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